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BIS collects a lot more gold, but from whom?
10:15a ET Wednesday, October 13, 2010
Dear Friend of GATA and Gold:
It's 10 a.m. Eastern time -- do you know where your gold is?
MineWeb's Rhona O'Connell writes that it might have been moved to the Bank for International Settlements, whose gold holdings are now reported to have increased substantially over the last few months, quite apart from the sensational and huge but mysterious BIS gold swap already much discussed.
Of course O'Connell's report at MineWeb takes for granted that there's no point in seeking information on the point directly from the source, the BIS itself. Apparently she didn't bother calling the bank's public information office to get an explanation. No, everything about official gold is tightly concealed -- nothing to see here, please move along.
O'Connell's report at MineWeb is headlined "BIS Taking in More Gold -- Who Are the Counterparties This Time?" and you can find it here:
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=112890&sn=Deta...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
Join GATA here:
The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
http://www.silversummit.com/
New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...
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Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.
Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com
